CEBU, Philippines - Japanese car maker Nissan Philippines, Inc., targets a 100-percent growth in the Philippine market’s automotive industry in the next five years.
Nissan Philippines president and managing director Antonio Zara said, with the growing middle income market in the Philippines, the company is optimistic to capture a significant share of the country’s active brand car buyers.
In a press conference yesterday, Zara stressed the significant contribution of Cebu in its growth projection in three years.
At present, Nissan holds four percent of the total market share in the automotive industry in the country, Zara said eight percent share growth in the next three years is easier to attain as strategic positioning of the brand is now being put in place.
In Cebu alone, the company is adding two more dealership outlets to support the expected boost of Nissan's sales in the short- term.
Aside from expanding its market reach, Zara said the brand will also be introducing more affordable car units that will be friendly to Filipino market.
According to Zara, who was in Cebu yesterday to grace the launching of its new Nissan X-trail model, said that the global goal of Nissan is to grow its market share to eight percent.
In the Philippines, where brand new car buying is on active mode due to climbing per capita income of the middle class, target may go beyond eight percent, Zara said.
The Chamber of Automotive manufacturers of the Philippines Inc., (CAMPI) projects that the industry will be able to sell P400 thousand cars in five years. This year, the industry expects to dispose 240 thousand to P260 thousand vehicles.
Combined sales of the CAMPI and the Truck Manufacturers Association Inc. (TMA) hit a record in March, leading to a 23 percent growth in total sales in the first quarter compared to a year ago.
The two groups’ combined sales reached a record performance of 19,173 units in March, 25 percent higher than the 15,292 units in the same month last year.
As of the first quarter, combined sales of the CAMPI and TMA climbed to 51,643 units from 42,034 units in the comparable period a year ago.
The country’s total vehicle sales reached around 212,000 units last year. — Ehda M. Dagooc (FREEMAN)